-Refer to the Above Figure

question 185

Multiple Choice

-Refer to the above figure. If a price floor of $5 was set

• A) the quantity sold would be 80 units.
• B) there would be a surplus of 40 units.
• C) there would be a shortage of 40 units.
• D) there would be a shortage of 20 units.

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Definitions:

Research Subjects

Individuals or groups upon which scientific research is conducted in order to test hypotheses and draw conclusions.

Social Groups

Collections of individuals who interact with each other and share similar characteristics and a sense of unity.

Inconvenient Fact

Information or data that contradicts currently held beliefs, assumptions, or the interests of a particular group.

Sociologists

Experts who study the development, structure, and functioning of human society.